Share Market: Amidst the mixed trend in the global market, the past week was full of ups and downs for investors in the Indian market. US Federal Bank’s interest, rise in dollar and crude oil prices directly affected the market. At the same time, it is understood that this week the stock market will be affected by macroeconomic data, global trends and the attitude of foreign investors. Analysts said that apart from this, Tata Consultancy Services (TCSThe market will also keep an eye on the quarterly results of major IT companies like ) and Infosys. The movement of global oil standard Brent crude and rupee will also affect the business. Meanwhile, the combined market valuation of five of the 10 largest companies in the market increased by Rs 86,234.73 crore last week. In this, Tata Consultancy Services (TCS) was the most profitable. After Tata, HDFC Bank, Infosys, Hindustan Unilever and Bajaj Finance also tasted profit. Whereas, shares of Reliance Industries, ICICI Bank, ITC, State Bank of India and Bharti Airtel declined.
What do experts say
Pravesh Gaur, Senior Technical Analyst, Swastik Investmart Limited, said that all eyes will be on the corporate results of the second quarter of the current financial year. TCS results will be out on October 11 and HCL Technologies and Infosys results will be out on October 12. He said that market participants will also keep an eye on the movement of rupee against dollar and crude oil prices. The attitude of foreign institutional investors (FII) and domestic institutional investors (DII) will also affect the market. He said that important announcements are also to be made on the macroeconomic front in the week under review. Under this, industrial production and manufacturing production figures for August will be released on October 12. He said that the inflation rate for September will be announced, which will provide information about the economic health of the country. Apart from this, Wholesale Price Index (WPI) data for September will come on October 13. Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities Limited, said that the market will take further cues from the upcoming quarterly results. Vinod Nair, head of research, Geojit Financial Services, said that from this week traders will keep an eye on the quarterly results of IT and banking sectors.
Market capitalization increased by Rs 86,234.73 crore
The combined market valuation of five of the country’s top 10 most valuable companies increased by Rs 86,234.73 crore last week. Last week, BSE Sensex rose 167.22 points or 0.25 percent. During this period, the market valuation of TCS increased by Rs 32,730.22 crore to Rs 13,24,649.78 crore. Bajaj Finance added Rs 21,697.96 crore, taking its valuation to Rs 4,94,884.37 crore. Infosys’ valuation increased by Rs 18,057.94 crore to Rs 6,13,655.04 crore and Hindustan Unilever’s valuation increased by Rs 7,730.16 crore to Rs 5,87,104.12 crore. The market capitalization of HDFC Bank increased by Rs 6,018.45 crore to Rs 11,63,164.31 crore. On the other hand, the valuation of Reliance Industries declined by Rs 19,336.49 crore to Rs 15,68,216.88 crore and the valuation of ICICI Bank declined by Rs 4,671.54 crore to Rs 6,62,057.43 crore. However, Reliance Industries remained the most valuable company in the country. The market capitalization of State Bank of India declined by Rs 4,105.33 crore to Rs 5,30,211.19 crore and that of ITC declined by Rs 2,743.6 crore to Rs 5,51,463.84 crore. The market valuation of Bharti Airtel declined by Rs 196.19 crore to Rs 5,19,082.95 crore.
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